Brazil | Inflation jumps above 8%; pressure from administered prices to ease ahead

Summary

Inflation increased for the third month in a row and reached 8.1% YoY in March after closing 2014 at 6.4% YoY. As most of the adjustment in administered prices is now over, inflation should stop increasing so abruptly ahead. We expect it to be around 8% YoY in the remainder of the year.

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